Steve Lutes, the head of the US trade delegation to Iraq, emphasized the country’s growing potential as an investment market. Lutes expressed optimism about cooperation opportunities across various sectors, with a special focus on creating job opportunities for Iraqi youth and contributing to the development of vital infrastructure and services.
The statement came following a meeting between Mahmoud Al-Mashhadani, Speaker of the Iraqi Parliament, and the US delegation, which included Chargé d’Affaires of the US Embassy, Daniel Rubinstein, along with representatives from 57 US companies. The delegation was in Iraq as part of an economic conference organized by the US Chamber of Commerce.
During the meeting, Al-Mashhadani warmly welcomed the US delegation and reiterated Iraq’s openness to initiatives that would develop its economy and strengthen its international ties. He particularly highlighted the importance of Iraq’s relationship with the United States, acknowledging the US as one of Iraq’s most important strategic partners in multiple sectors.
The Speaker stressed the critical need for investment in Iraq, particularly in the country’s vital and strategic sectors such as oil and electricity, which form the backbone of its economy. He also emphasized the importance of stimulating investment in agriculture, industry, and services that directly impact the lives of citizens, such as healthcare, education, and environmental initiatives.
Al-Mashhadani further explained that the Iraqi Parliament had enacted an investment law to create a secure and supportive legal environment for foreign investors. This law aims to protect investor rights, encourage transparency, and ensure equal opportunities for all involved. He reassured the delegation that Parliament works closely with the government to support development projects and facilitate investment flows, ensuring a positive environment for both foreign and local businesses.
In his comments, Rubinstein expressed satisfaction with the growing economic cooperation between Iraq and the United States. He reaffirmed the US commitment to supporting Iraq’s journey towards economic stability and development, strengthening the partnership between the US and Iraqi private sectors.
Steve Lutes also noted that the Iraqi market holds significant promise for US companies. He pointed out that the focus will be on creating job opportunities for Iraq’s youth while investing in the country’s critical infrastructure and services.
The meeting underscored Iraq’s broader efforts to promote economic openness and expand its international investment relationships. The government remains committed to ensuring a stable and attractive investment environment to foster sustainable development and bolster the nation’s economic growth.
